| |
|
|
|
|
|
|
| |
|
|
|
2008 |
|
2007 |
| |
|
Note |
|
R’000 |
|
R’000 |
| |
|
|
|
|
|
|
25. |
NOTES TO THE CASH FLOW STATEMENT |
|
|
|
|
|
| 25.1 |
Cash generated by operations |
|
|
|
|
|
| |
Profit before taxation and State’s share of profits |
|
|
4 687 456 |
|
1 172 439 |
| |
Adjusted for: |
|
|
344 828 |
|
212 435 |
| |
|
|
|
|
|
|
| |
– Dividends received |
|
|
(9 002) |
|
(5 034) |
| |
– Interest received |
|
|
(67 745) |
|
(20 676) |
| |
– Profit on disposal of property, plant and equipment |
|
|
– |
|
(2 458) |
| |
– Profit on disposal of available-for-sale investments |
|
|
(22 350) |
|
(43 025) |
| |
– Net unrealised foreign exchange gains |
|
|
(27 202) |
|
– |
| |
– Net unrealised foreign exchange losses |
|
|
– |
|
17 612 |
| |
– Amortisation of intangibles |
4 |
|
180 |
|
180 |
| |
– Cost of inventories written down |
|
|
2 054 |
|
1 255 |
| |
– Depreciation on property, plant and equipment |
2 |
|
293 474 |
|
228 417 |
| |
– Finance costs |
20 |
|
71 935 |
|
34 443 |
| |
– Environmental provision discount adjustment |
|
|
2 485 |
|
1 394 |
| |
– Borrowing costs capitalised |
20 |
|
(33 919) |
|
(6 972) |
| |
– Foreign currency translation reserve |
|
|
11 216 |
|
530 |
| |
– Loss on disposal of property, plant and equipment |
|
|
10 040 |
|
207 |
| |
– Movements in long-term provisions |
|
|
52 057 |
|
(695) |
| |
– Movements in short-term provisions |
|
|
63 061 |
|
6 272 |
| |
– Provision for impairment of debtors and bad debts written off |
|
|
9 |
|
10 |
| |
– Other non-cash flow items |
|
|
(1 465) |
|
975 |
|
| |
|
|
|
5 032 284 |
|
1 384 874 |
| |
|
|
|
|
|
|
| 25.2 |
Dividend income |
|
|
|
|
|
| |
Credited to the income statement |
|
|
9 002 |
|
5 034 |
| |
|
|
|
|
|
|
| 25.3 |
Movements in working capital |
|
|
|
|
|
| |
Increase in inventories |
|
|
(313 737) |
|
(81 150) |
| |
Increase in trade and other receivables |
|
|
(1 172 830) |
|
(168 120) |
| |
Increase in trade and other payables |
|
|
435 450 |
|
223 022 |
| |
Increase in short-term finance raised |
|
|
2 228 056 |
|
– |
| |
Payments against short-term provisions |
|
|
(2 754) |
|
(1 937) |
| |
|
|
|
1 174 185 |
|
(28 185) |
| |
|
|
|
|
|
|
| 25.4 |
Taxation paid |
|
|
|
|
|
| |
Unpaid at beginning of year |
|
|
(89 076) |
|
(56 609) |
| |
Charged to the income statement |
|
|
(1 509 091) |
|
(369 084) |
| |
Movement in deferred taxation |
|
|
251 429 |
|
68 186 |
| |
Unpaid at end of year |
|
|
966 127 |
|
89 076 |
| |
|
|
|
(380 611) |
|
(268 431) |
| |
|
|
|
|
|
|
| 25.5 |
Dividends paid |
|
|
|
|
|
| |
Unpaid at beginning of year |
|
|
(107) |
|
(100) |
| |
Declared and paid during the year |
|
|
(126 000) |
|
(84 000) |
| |
Dividends attributable to treasury shares |
|
|
4 392 |
|
2 928 |
| |
Unpaid at end of year |
|
|
68 |
|
107 |
| |
|
|
|
(121 647) |
|
(81 065) |
| |
|
|
|
|
|
|
| 25.6 |
Cash resources at end of year |
|
|
|
|
|
| |
Cash resources |
|
|
1 952 015 |
|
280 360 |
| |
The cash resources disclosed in the cash flow statement comprise cash on hand, deposits held on call with banks and highly liquid investments that are readily convertible to known amounts of cash and are subject to insignificant changes in value over time. Bank overdrafts have been separately disclosed as current liabilities in the balance sheet. |
